Preserving and protecting your wealth for your children and grandchildren is of the utmost importance to our clients, regardless of how modest that wealth may be. It can take a lifetime to accumulate, but without proper planning, that wealth can be exhausted quickly with the cost of long-term care expenses. Protecting your family’s wealth can be done effectively with careful and thoughtful planning and by accessing other sources of payment, such as long-term care insurance, Veteran’s Benefits or Medicaid. If you are planning in advance for the possible need for long-term care, you may consider long-term care insurance, irrevocable trusts, or income-only trusts, a type of an irrevocable trust. Outright gifting of assets may also be an option.
Another important component of asset protection is developing a Life Care Plan. Life Care Planning is a way to respond to the challenges that develop as you go through the later stages of your life, such as long-term illness or disability. In order to financially plan for your future, it is important to imagine what that future may look like and then evolve with those changes as they occur.
Our attorneys and staff understand how crucial it is to safeguard your assets and will provide their knowledge and experience to formulate a comprehensive and tailored plan that meets your needs.